Overview of the Cyprus Golden Visa Program
The Cyprus Golden Visa provides a permanent residency permit to investors and their immediate family—spouse and children under 25—when they make an eligible investment in the country. The minimum required investment is €300,000 (excluding VAT for certain property categories), which is lower compared to similar schemes elsewhere in Europe. The process is designed to be efficient, with most applicants obtaining approval within approximately two months.
Upon approval, investors and their covered family members can:
- Live and study in Cyprus without restrictions.
- Travel visa-free within the Schengen Area for up to 90 days in any 180-day period.
- Gain access to quality healthcare and education in Cyprus.
However, it is important to note that employment in Cyprus is typically not permitted under this visa category—your income must originate from abroad unless you invest in a Cypriot business.
Investment Options
There are four main pathways to qualify for the Cyprus Golden Visa, each requiring a minimum investment of €300,000. The principal investment must come from funds abroad and not from domestic borrowing or commercial activity within Cyprus.
1. Residential Property Purchase
Investing at least €300,000 (excluding VAT) in new residential property is the most popular route. Applicants can buy either a single property or up to two units (from the same developer) as long as the combined value meets the threshold. The funds must be paid into a Cypriot bank account before reaching the property seller.
2. Commercial Property Purchase
Alternatively, applicants may invest in commercial real estate, such as offices, retail spaces, or hotels, either new or resale. The minimum required value is again €300,000, and investors can purchase more than one property as long as the total investment meets or exceeds the threshold. Unlike with residential property, income used for this investment can originate from business activities in Cyprus.
3. Invest in a Cypriot Company
Qualified applicants may choose to invest at least €300,000 in the share capital of a Cypriot company. The company must have a physical presence in Cyprus and employ at least five Cypriot or EU citizens. Investors can own shares, act as directors, and benefit from dividend income generated by the company. This route allows for active participation in the Cypriot economy.
4. Investment Funds
The Golden Visa can also be obtained by investing €300,000 in a regulated Cypriot investment fund, such as an Alternative Investment Fund (AIF), Registered Alternative Investment Fund (RAIF), or UCITS. The fund must be registered with the Cyprus Securities and Exchange Commission and maintain a physical presence in Cyprus. Applicants need certification from the fund confirming their eligible investment.
Additional Program Features
- Source of Funds: All investment funds must be transferred from outside Cyprus, ensuring foreign capital infusion into the Cypriot economy.
- Ongoing Requirements: The investment must be maintained as long as the permanent residency status is active. Selling or otherwise disposing of the asset without replacement can lead to the residency permit’s cancellation.
- Family Members: Spouses and children under 25 can be included under the main applicant’s permit, making it a flexible solution for families.
- Application Process: The process is straightforward and typically takes about two months from the time of submission, making it one of the fastest residency-by-investment routes in Europe.
Conclusion
Investing €300,000 in Cyprus through real estate, business shares, or investment funds enables high-net-worth individuals and their families to secure permanent residency in a European Union member state. With clear requirements, quick processing times, and family-friendly policies, the Cyprus Golden Visa remains a sought-after option for global investors.